Tuesday, October 7 2014 18:04
Armenia's Central Bank reduces private transfer growth outlook for 2014
ArmInfo. Armenia's Central Bank has reduced private transfer growth outlook for 2014.
Now the CB expects private transfers to grow by 1-3% against 4.5-6.5% growth expected earlier.
The key reason why the CB has reduced its outlook regarding private transfers is slowing down growth in Russia's GDP.
In 2013 the inflow of private transfers into Armenia grew by 11.3% against 8.9% in 2012 to $1.5bln.
The inflow of private transfers from Germany grew by 32.2% to $15.6mln, from the United States by 23% to $82mln, from France by 22.5% to $14.5mln, from Russia by 11% to $1.6bln, from Kazakhstan by 5.3% to $23.7mln.
The inflow of private transfers from Ukraine dropped by 10.5% to $7mln, from China it halved to $1.4mln.
Almost 86% of all private transfers came from Russia, 4.4% from the United States, 1.3% from Kazakhstan, 0.9% from Ukraine, 0.8% from Germany and 0.8% from France.
More than half of outgoing transfers were to Russia ($180.3mln).
Russia accounted for 92.3% of the net inflow or $1.4bln (11.4% more than a year before).
Today Armenia has 11 payment systems: MoneyGram, Bystraya Pochta, BLIZKO, Avers, InterlExpress, InterExpress, Private Money, Sigue Money Transfer, TANDEM Transfers, UNIStream and Anelik.
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